Installed Building Products Inc. (IBP) Reaches New 12-Month High at $38.97
Shares of Installed Building Products Inc. (NYSE:IBP) hit a new 52-week high on Monday . The company traded as high as $38.97 and last traded at $37.71, with a volume of 128,544 shares. The stock had previously closed at $36.86.
A number of brokerages have recently weighed in on IBP. Zacks Investment Research cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 11th. Zelman & Associates cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Royal Bank Of Canada increased their price target on Installed Building Products from $31.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, May 9th. Finally, TheStreet upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $32.80.
The stock has a 50-day moving average price of $35.39 and a 200 day moving average price of $27.57. The firm has a market capitalization of $1.18 billion and a price-to-earnings ratio of 38.00.
Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, May 5th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. During the same period last year, the business earned $0.05 earnings per share. The firm had revenue of $191.70 million for the quarter, compared to analyst estimates of $174.02 million. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. On average, equities research analysts anticipate that Installed Building Products Inc. will post $1.49 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Installed Building Products stock. Dimensional Fund Advisors LP boosted its position in Installed Building Products Inc. (NYSE:IBP) by 55.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 315,045 shares of the company’s stock after buying an additional 112,556 shares during the period. Dimensional Fund Advisors LP owned 1.01% of Installed Building Products worth $7,822,000 as of its most recent SEC filing.
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in approximately 50 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provide cross-selling opportunities to supplement the insulation installation business.
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